Mexican steel producer AHMSA posted a net profit of MXN 345 million ($17 million) for Q1 2022, reverting a net loss of MXN 2.66 billion in Q1 2021.
Net sales increased by 145 percent to MXN 12.55 billion, the EBITDA has reached MXN 73 million, reverting a negative figure of MXN 27 million in Q1 2021 and the operational profit has reached MXN 996 million, against an operational loss of MXN 1.243 billion in Q1 2021.
In volume, sales of steel products have increased to 455,000 mt in Q1 2022, from 354,000 mt in Q1 2021.
According to the company, in late 2021 steel prices declined on an international basis, but a gradual recovery has occurred since then, and the combined increase in production and sales have allowed for positive results in Q1 2022.
AHMSA’s president Alonso Elizondo unveiled expectations that positive results will continue during 2022, with a gradual return to historical levels of production.